Corporate Wellness Presentation

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Transcript of Corporate Wellness Presentation

What is corporate wellnessWhy does it matterWhat to expect in returnWhy GenetixFinancially help companyreduce turn over ratehealthier = happier = productiveleaky bucketmoney and peopleA system used by an employer to foster a culture of health among the work force with the goals of improving quality of life for their employees, reducing the burden of insurance premiums, reducing illness among the work force and with that reducing the cost of absenteeism, and inversely improving presenteeism, or the fostering of productive engaged employees. Simply put, it is a risk management system used to benefit employers financially by benefiting their employee’s health and quality of life. Corporate Wellness isCorporate Wellness is NOTA gym membershipA nurse HotlineA discount on boxed foodA weight loss programThese are all tools, parts of a program, some of which work and some that don't. So, what is corporate wellnessWhy does Corporate Wellness matterBecause companies are increasingly becoming a series of leaky buckets. Leaking people and productivity. Which means you are losing talent and money. Lets look at what it is costing you.Leaky bucket #1Employee retentionCOST OF EMPLOYEE TURNOVER by William G. Bliss

The following is a comprehensive checklist of items to include when calculating the cost of turnover in any organization. To determine the costs, have the hourly and weekly cost of fully loaded payroll costs (i.e. salary plus benefits) of the vacant position, the management staff, the recruitment staff and others as outlined below.

It should be noted that the costs of time and lost productivity are no less important or real than the costs associated with paying cash to vendors for services such as advertising or temporary staff. These are all very real costs to the employer.

These calculations will easily reach 150% of the employees annual compensation figure. The cost will be significantly higher (200% to 250% of annual compensation) for managerial and sales positions.

To put this into perspective, let's assume the average salary of employees in a given company is $50,000 per year. Taking the cost of turnover at 150% of salary, the cost of turnover is then $75,000 per employee who leaves the company. For the mid-sized company of 1,000 employees who has a 10% annual rate of turnover, the annual cost of turnover is $7.5 million!

Do you know any CEO who would not want to add $7.5 million to their revenue? And, by the way, most of that figure would be carried over to the profit line as well. What about the company with 10,000 employees? The cost of turnover equals $75 million!National labor statisticsAbsenteeism The BreakdownAbsenteeism cost by profession Leaky Bucket #3The high cost of Insurance premiumsWhat do we do to fix it?What to expect in return for a comprehensive Wellness programWhat are the numbers?What are the components of a successful wellness programWhyPresented to Chrysler GroupnotCorporate Wellness goalsImprove the health of their workforceReduce the cost of being an employerMaintain compliance of ever changing health care regulationsGoal #1 Improve health of employeesWeight loss through daily phone coachingSmoking cessation through daily phone coachingStress management via daily phone coachingEat to performPre and Post pregnancy programsDisease specific daily phone coachingWhy does this work to improve health?AccountabilityEngagementBehavior ModificationGoal #2 Reduce the cost of being an employerReduced absenteeismReduced workers compensation claimsLower healthcare costsHealthier retirees Lower employee turn overGoal #3 Maintain compliance with changing healthcare regulationsHIPAA compliance for health records in our back officeRegular HIPAA compliant reports to Chrysler "Wellness Team"The Genetix Program Team constantly stays ahead of the ever changing landscape of health care reform (A.C.A.). We adjust or programs to ensure compliance with any new regulations in real time.